IoT start-up bags $3.3m investment

Spanish industrial IoT start-up WITRAC has bagged $3.3m of funding from its latest fundraising round. Board members Goldacre Ventures and Mundi Ventures led the latest round, and investors Clave Mayor Tech Transfer and Mondragón Corporation also participated. The funds raised will be invested into the company’s expansion into Europe and the United States, as well as the logistics and automotive sectors. Software products for analytics and advanced data processing will also be developed using funds raised. Goldacre’s managing director Fionnuala Hogan said: “As one of our RElab alumni, we are excited to further support WITRAC alongside our co-investors to internationalise their business and to accelerate growth within their core target sectors. “We look forward to help build on their existing strong relationships with key global players within the space, and continuing to harmonise the intersection between tech and production processes.” To send feedback, e-mail lucy.alderson@egi.co.uk or tweet @LucyAJourno or @estatesgazette